Did you know 43% of workers would be willing to leave their companies for a 10% salary increase?
Compensation is an important factor in attracting and retaining employees, especially in sales. Imagine if almost half of your sales team left the company because of a poorly designed compensation plan.
The results wouldn’t be pretty.
If your sales organization is struggling to strike a balance between company requirements and the compensation needs of employees, it’s likely time to reevaluate your compensation plan and commission structure.
As a salesperson, it’s valuable to know what types of commission plans are available and what salary and commission rates you should look for from an employer.
Luckily, I’ve compiled some resources for you to determine the best sales commission structure for your sales team or yourself. Ready to learn more?
In his book, “The High-Velocity Sales Organization“, sales strategist, Marc Wayshak, discusses how important compensation and commission is to your sales infrastructure. He offers a few tips to keep in mind when creating a commission structure:
1. Don’t cap salaries.
Capping salaries decreases the earning potential of your salespeople. Sales management should be supportive of their team and want individuals to make as much as possible in return for their hard work.
2. Do it right the first time.
In sales compensation, there isn’t room for do-overs. Introducing a new compensation plan moves your sales team’s goals and targets, diminishing your reps’ morale and motivation.
3. Keep it simple.
Make your compensation and commission plan clear. Not only will this make the commission structure easier to implement, but it will also ensure there aren’t any loopholes in the plan. A salesperson should be able to fill in the blanks: If I do X, then I will make $Y.
So, what commission structure should you choose? Well, there are a few to pick from. Common structures include:
1. Base Salary Plus Commission
With this plan, salespeople are provided a base salary with commission. The standard salary to commission ratio is 60:40, where 60% is fixed and 40% is variable.
This structure is ideal for companies where sales rep retention is critical to the success of the sales organization. The company is actively investing in the success of the rep while incentivizing their performance.
2. Straight Commission Plan
With this plan, sales reps’ income comes directly from the sales they earn. There is no base salary.
This structure is ideal for startups with not a lot of capital because the sales rep assumes the risk by giving up the security of a steady salary. High-performance sales reps can thrive in these environments, but be prepared to experience the difficulty of maintaining stability in roles with commission structures like this.
3. Relative Commission Plan
The relative commission plan is when a target or quota is set. Let’s say a salesperson has a quarterly quota of $90,000 and a quarterly commission of $10,000. If they meet 85% of the quota, they’ll receive 85% of the commission.
This is in addition to their base salary, which can help incentivize underperformers without causing the turnover that often happens with roles under a commission-only plan.
4. Absolute Commission Plan
This is when a commission is paid as a result of engaging in specific activities or meeting specific goals. For example, a salesperson might be paid $1,000 for each new customer. Like the relative commission plan, it can help incentivize underperformers, but the emphasis is less on revenue and more on activity.
5. Straight-Line Commission Plan
A straight-line commission plan rewards salespeople based on how much or little they sell. For example, if they reach 90% of their quota, they receive 90% of their commission. However, if they exceed quota, their commission increases. This is a great way to incentivize underperformers to meet quota as well as those who consistently meet quota to overperform.
6. Tiered Commission Plan
A tiered structure encourages reps to put in extra effort by providing higher commission as they hit substantial sales milestones. Here, reps could be paid increasing commissions as they meet their quota, exceed their quota, and continue to close more deals than they’re expected to.
This is ideal for organizations with salespeople who consistently reach (but not exceed) their goals while having a little more control on commission rates than the straight-line commission plan.
7. Territory Volume Commission Plan
With this commission structure, salespeople work with clients in clearly defined regions. And they’re paid on a territory-wide versus individual sale basis.
This is ideal for team-based organizations who are wanting to fortify in specific service areas.
This ultimate guide to sales compensation provides even more detail on sales commission structures and compensation plans. And it will help you determine which structure will work best for your company and sales team.
Averages for salary and commission allow sales leaders to see how their sales commission plan compares to the rest of their industry. And for salespeople, they can see how their sales compensation plan stacks up.
Average Sales Commission Rates by Industry
The wages below are from the BLS Occupational Employment Statistics (OES) survey. These wages reflect the median average pay for each industry. The commission rate will depend on the company and the commission structure they choose.
1. Wholesale and Manufacturing Sales Representatives
Median pay: $61,660
These kinds of sales representatives sell goods for wholesalers or manufacturers to businesses, government agencies, and other organizations. Their job security and livelihood is often almost entirely intertwined with the volume of merchandise they can sell. Their commission structure tends to reflect that. These reps are often paid with absolute or base salary plus commission plans.
2. Insurance Sales Agents
Median pay: $50,600
Insurance sales agents contact potential customers to sell different kinds of insurance. Agents spend time directly interfacing with clients, completing paperwork, and preparing presentations. They also fulfill other customer-facing and administrative responsibilities. Commission for this brand of sales is generally paid on a base salary plus commission basis. Commission percentages tend to vary by the type of insurance agents are selling.
3. Advertising Sales Agents
Median pay: $51,740
Advertising sales agents sell advertising space to businesses and individuals. They often work across a variety of industries and media, including advertising agencies, radio, television, and Internet publishing. Advertising sales agents often have strict quotas and receive a commission for meeting or exceeding them.
4. Real Estate Brokers and Sales Agents
Median pay: $50,300
Real estate brokers and sales agents help clients buy, sell, and rent properties. Every state requires real estate sales professionals to be licensed. That could mean completing courses or passing a state-specific exam. They’re often self employed, so many have the flexibility to define their own commission structure.
5. Securities, Commodities, and Financial Services Sales Agents
Median pay: $64,120
Securities, commodities, and financial services agents buy and sell securities or commodities in investment and trading firms. They can also provide financial services to businesses and individuals. Some advise customers about stocks, bonds, mutual funds, commodities, and market conditions. These salespeople often charge flat-rate commissions either per share or per trade.
6. Sales Representatives, Services, SAAS, Business Support, Telecommunications, All Other
Median pay: $54,550
This category of sales encompasses salespeople in positions and industries in a wide variety of service-based businesses, including business support, technical consulting, electronics, telecommunications, computer systems and electronics, and software as a service. Given the wide range of industries and companies encompassed in this category, it can be hard to identify its most common commission structure.
7. Door-to-Door Sales Workers, News and Street Vendors, and Related Workers
Median pay: $26,430
Several different kinds of salespeople fall under this category, including professionals in telecommunications, residential building construction, and subscription programming. Given the wide range of industries and companies encompassed in this category, it can be hard to identify its most common commission structure.
8. Retail Salespersons
Median pay: $25,250
Retail sales refers to the occupation in which merchandise (such as clothing, furniture, or appliances) are sold in a retail brick-and-mortar environment. These environments include everything from general merchandise stores to dealers specializing in specific wares such as sporting goods or musical instruments.
Since success is often dependent on foot traffic rather than sales activity, retail salespersons are often compensated by a base salary only. However, retail environments with high-ticket items often pay flat commission rates.
9. Sales and Related Workers, All Other
Median pay: $33,220
This category of sales encompasses salespeople in positions and industries that don’t fall into any of the ones mentioned above. This can include roles at automobile dealerships, in non-depository credit intermediation, and with food and beverage retailers. The range of roles that fall into this category is broad, so the variety the commission structures used tends to be as well.
Before agreeing to accept a sales job at a company, you should have a clear outline and understanding of its commission structure and compensation plan. The sales commission agreement should tell you everything you need to know about the commission and salary you’re going to make.
Sales Commission Agreement
What is a sales commission agreement? It includes a salesperson’s terms of employment. The agreement also outlines the compensation structure and working relationship between employee and employer.
In short, it allows both the salesperson and their employer to agree on compensation, commission, and job responsibilities. Here are the key elements that should be included in a sales commission agreement.
This section gives the okay for the salesperson to sell products or services on behalf of their employer. The employer often limits the selling by restricting the regions or territories in which the offerings are sold and prohibiting the rebranding and reselling of their products.
The salesperson must agree to use documentation and tools that are approved by the company to keep track of their sales activities. For example, this would include CRM databases, software, forms, etc.
3. Non-Compete Clause
A non-compete clause requires the salesperson to refrain from representing or selling on behalf of a competitor for a period of time after leaving their employer.
4. Non-Disclosure Clause
The non-disclosure clause ensures that the employee agrees to refrain from sharing confidential information or intellectual property.
5. Commission Structure
This is where you share the details of the commission structure. After reading this section, the employee and employer should have a clear understanding of:
The compensation structure (e.g., commission, performance incentives, bonuses)
When a commission is earned
When commissions are paid
Consequences of cancellations, refunds, or default of payments from customers
Both the salesperson and their employer agree to the details of the sales commission agreement by signing and dating the document.
For additional recommendations and insight, consult your legal team or seek out the advice of a lawyer to help you carefully craft your sales commission agreement.
Strategic Business Plan Examples
If you need some help developing a sales commission agreement or strategic business plan, these templates are a great way to get started.
1. Sales Commission Agreement Template from PandaDoc
Edit and customize this sales commission agreement template to fit your needs. This template can be signed by your recipients, and you’ll be able to track the document’s opens and views.
2. Sales Commission Agreement Template from FormSwift
This sales commission agreement template builder will help you outline the working relationship between employee and employer. It includes general information (e.g., address and phone number), commission structure, documentation, and non-compete and non-disclosure clauses.
3. Sales Commission Agreement Template from RocketLawyer
With this fill-in-the-blank sales commission agreement, you’re able to quickly plug in the details for your document. And it includes a progress bar to show you how much more of the agreement needs to be completed.
With a well-planned sales commission structure, you’ll attract top employees and retain them. And clearly outlined compensation plans will make it easier for employees to understand expectations and earn their commission.
Editor’s note: This post was originally published in January 2020 and has been updated for comprehensiveness.
Original Source: blog.hubspot.com
The Doctors for Disaster Preparedness1 lecture above, given August 16, 2020 in Las Vegas, Nevada, features Dr. Lee Merritt, an orthopedic spinal surgeon with a medical practice in Logan, Iowa.2
In her presentation, she discusses how geopolitical power can be swayed in the absence of an identifiable army or declared war. She talks about the cognitive dissonance we’re currently facing, when what we’re told no longer corresponds with known facts or logical thinking.
And she reviews how medical technocrats — the so-called medical experts and political leaders who have turned the world upside-down in response to COVID-19 — have been 100% wrong about everything they’ve been telling us.
They’ve been wrong about the initial risk assessment, testing, preventive measures, mask wearing and social distancing. They’ve conflated “cases” or positive tests with the actual illness. They’re also guilty of errors of omission — not telling us what medical doctors and scientists know to be helpful.
“I can give you the benefit of the doubt when you’re wrong about one or two things, but when you’re wrong 100% of the time, consistently, that is not by accident,” Merritt says. “They should have come up with something that was in our best interest if they really cared about us.”
The Rise of Technocracy
Merritt credits her understanding of technocracy to reading Patrick Wood’s book, “Technocracy Rising: The Trojan Horse of Global Transformation.” Wood is also the editor in chief of Technocracy News & Trends. I recently interviewed Wood. His interview is featured in “The Pressing Dangers of Technocracy.”
As explained by Wood and Merritt, technocracy is an economic ideology built around totalitarian rule by unelected leaders. It got its start in the 1930s during the height of the Great Depression, when scientists and engineers got together to solve the nation’s economic problems. At the time, it looked like capitalism and free enterprise were going to die, so they decided to invent a new economic system from scratch.
They called this system “technocracy.” The word comes from the word “techn,” which means “skill,” and the god “Kratos,” which is the divine personification of power. As explained by Merritt, a technocrat is someone who exercises power over you on the basis of their knowledge.
Based on deaths per capita, the death rate for COVID-19 is 0.009%. That means the average person’s chance of surviving this disease is 99.991%.
As an economic system, technocracy is resource-based. Rather than basing the economic system on pricing mechanisms such as supply and demand, the technocratic system is instead based on energy resources. In a nutshell, under this system, companies would be told what resources they’re allowed to use, when, and for what, and consumers would be told what to buy.
Former President Obama’s implementation of economic fines for those unwilling or unable to purchase health insurance could be viewed as an example of this system, in which you do not have the freedom to choose whether you want to buy a service or not. Your only choices are to purchase that which is mandated, or pay a fine.
The technocratic system also involves, indeed requires, social engineering, which relies on massive data collection and the use of artificial intelligence. Technocrats have silently and relentlessly pushed this agenda forward ever since those early days in the ‘30s, and signs of its implementation are becoming increasingly visible.
Evidence of technocratic rule has also become evident during the pandemic. The censoring and manipulation of medical information are part and parcel of the social engineering part of this system.
The Lies We’ve Been Told About COVID-19 Death Risk
In her lecture, Merritt reviews several lies we’ve been told by the technocratic elite, starting with the actual risk of death. Based on deaths per capita, the death rate for COVID-19 is 0.009% (709,000 people have died from or with COVID-19 around the world, and the global population is 7.8 billion). That then means the average person’s chance of surviving this disease is 99.991%.
The area with the highest death rate, New York, has a death per capita rate of 0.17%, yet Dr. Anthony Fauci publicly lauded New York for its excellent COVID response. This is just one example that has caused cognitive dissonance, as praising the area with the highest death rate (even if low overall) as having one of the best responses simply isn’t logical.
Ironically, five of the six countries with the lowest death rates (ranging between 0.00003% and 0.006%) did very little in terms of pandemic response; they didn’t shut down or order people to stay home.
Yet, we’re told these measures are absolutely necessary, and must continue, perhaps indefinitely. This too creates massive cognitive dissonance, as it goes against all logic. If an action doesn’t result in an observable benefit, it simply doesn’t make sense to continue, let alone claim that was and is necessary.
Purposeful Conflation of ‘Positive Tests’ With ‘Cases’
Furthermore, instead of comforting everyone and opening the world back up when the death toll started falling, the narrative suddenly shifted focus to “cases,” meaning people who tested positive for SARS-CoV-2 — regardless of whether they had symptoms. More cognitive dissonance, as the primary measure of disease threat is its lethality.
As noted by Merritt, since ancient times, a “case,” medically speaking, has referred to a sick person. It never ever referred to someone who had no symptoms of illness.
Now all of a sudden, this well-established medical term, “case,” has been completely and arbitrarily redefined to mean someone who tested positive for the presence of viral RNA. “That is not epidemiology. That’s fraud,” Merritt says.
What’s more, most of the tests used have no benchmarks, meaning we don’t know what the rates of false positives and false negatives are. And, many areas are tacking on extra “cases” when someone tests positive and relays that they’ve been around other people. Again, “that’s fraud,” Merritt says.
Evidence that the technocratic propaganda is working can be seen in a recent poll by Harvard, Oxford and Universita Boconi, which found Millennials believe 2% of their generation will die from COVID-19. “That’s 10,000 times more than the reality,” Merritt says. “It’s just completely out of proportion to reality.”
The Lies We’ve Been Told About Mask Wearing
Lie No. 2 is about the benefits of mask wearing. “It’s not scientifically sound, so why are we doing it?” Merritt asks. It’s “just a symbol of submission.” As noted in her slide show, “The strongest argument for mask wearing is it sounds good. The strongest argument against mask wearing is it doesn’t work at all.”
Alongside that quote is a photo of a man’s face covered in dust particles after sawing sheetrock wearing a Class II medical earloop facemask, with the caption, “Each particle of sheetrock dust is 10 microns. Coronavirus is 0.125 microns. Any questions?”
The coronavirus is nearly 100 times smaller than sheetrock dust. In other words, surgical masks cannot and do not block the coronavirus (or any other virus for that matter). Surgical mask boxes are even printed with the warning that the mask “will not provide any protection against COVID-19 or other viruses,” and “does not reduce the risk of contracting any disease or infection.”
Ditto for medical N95 respirator masks, as they only block particles larger than 0.3 microns. N95 masks are used in hospital settings to protect against tuberculosis, as the TB virus is 3 microns. You must, however, wear the correct size, it must be properly fitted to your face, and you must follow certain procedures when putting it on and removing it to prevent cross contamination.
OSHA respirators, used by construction workers and other industries, also screen down to 0.3 microns, but they are equipped with a one-way valve. So, it only screens the air coming in, not the air going out. So, you’re in no way protecting others when wearing such a mask.
The Quality of Data Is What Matters
Merritt also discusses a publication in PNAS, “Identifying Airborne Transmission as the Dominant Route for the Spread of COVID-19,”3 in which the authors purport to support mask wearing by looking at New York City as a model. According to Merritt, she has serious concerns about this study, as it doesn’t control for the No. 1 factor that reduces infectivity, namely humidity.
The higher the humidity, the lower the infectivity rate. The paper also has “all these bizarre references,” Merritt says, “that have absolutely nothing to do with the precursors of anything you would look at to do this kind of research.”
What’s more, at least one of the authors listed, Yuan Wang, has no medical background whatsoever. He’s in the division of planetary and geological sciences at Cal Tech.
The graph showing that infectivity in New York City was reduced when mask wearing was mandated also matches the natural downslope seen in Sweden (which had no lockdown or mask mandate) as the infection ran its course. In no way does it prove that mask wearing actually prevents infection. “This is a very sophisticated made-up fraud, I think,” Merritt says.
She also reviews other publications in the medical literature showing masks do not protect against viral infections — including a May 2020 review by the Centers for Disease Control and Prevention itself, which I wrote about in “WHO Admits: No Direct Evidence Masks Prevent Viral Infection.” In that review, the CDC concluded that masks did not protect against influenza in non-health care settings.
Merritt also cites studies showing there’s no difference between surgical masks and medical N95 masks. For a better understanding of the science, she recommends reading Denis Rancourt’s paper,4 “Masks Don’t Work: A Review of Science Relevant to COVID-19 Policy.” I’ve also interviewed Rancourt, who has a Ph.D. in physics, about his findings, which you can find in “Masks Likely Do Not Inhibit Viral Spread.”
Mask Mandates for Peons and the Social Distancing Lie
The suspicion that masks are little more than suppression muzzles also gains strength by the fact that lawmakers are exempting themselves and certain categories of workers from their mask mandates.
Two examples given in Merritt’s lecture is the D.C. mask mandate, which exempts lawmakers and government employees. In Wisconsin, the Governor has exempted all politicians from the mask order. If masks truly worked, wouldn’t these workers be prime candidates for wearing masks everywhere to prevent them from getting ill and dying?
The third lie Merritt reviews is the 6-foot social distancing rule. Thirty-four minutes into the lecture, you’ll find a fascinating video from a study5 published March 26, 2020, in JAMA Insights, demonstrating the particle emissions occurring when sneezing. In this study, they showed emissions can reach 23 to 27 feet (7 to 8 meters) — a far cry from the 6-foot distance we’re told will keep everyone safe.
The Biggest Lie: Lysosomotropic Agents Don’t Work
Lie No. 4, which Merritt believes is the biggest one of all, is that lysosomotropic agents (drugs that acidify the lysosome) such as chloroquine and hydroxychloroquine don’t work. Fauci has repeatedly stated that these drugs either don’t work, that there’s insufficient evidence, or that the evidence is only anecdotal.
Yet the National Institutes of Health itself published research6 in 2005 showing chloroquine is a potent inhibitor of SARS coronavirus infection and spread, actually having both prophylactic and therapeutic benefits. As the director of the National Institute of Allergy and Infectious Diseases (NIAID), which is a part of the NIH, since 1984, Fauci should be well aware of these findings.
As for what the motive might be for suppressing the use of hydroxychloroquine, despite all the evidence showing it works quite well when used early in the course of treatment, Merritt points to a 2006 study7 in the Virology Journal, titled “In Vitro Inhibition of Human Influenza A Virus Replication by Chloroquine.”
That study delivered “overwhelming proof that chloroquine inhibited influenza A,” Merritt says. Now, if an inexpensive generic drug can prevent influenza infection, then what would we need seasonal influenza vaccines for?
Another paper,8 “Effects of Chloroquine on Viral Infections: An Old Drug Against Today’s Diseases?” published in The Lancet Infectious Diseases in 2003, discussed the potential of chloroquine against a range of viral diseases.
So, not only might we have an inexpensive remedy that can fight the flu, it might be useful against many other diseases as well. In short, were these drugs to be recognized for their antiviral benefits, they could disrupt the drug industry to a significant degree. Is that why they’re suppressed and vilified?
Follow the Money
Merritt also reviews Dr. Vladimir Zelenko’s clinical experience with hydroxychloroquine, which you can read more about in “How a False Hydroxychloroquine Narrative Was Created.” Of course, the media vilified Zelenko rather than applauding his remarkable successes against COVID-19.
Even more egregiously, Merritt notes, was the fact that a Baltimore federal prosecutor actually started an investigation into Zelenko based on his statement that hydroxychloroquine is FDA approved. “It is FDA approved,” Merritt says. “You don’t go back once things are FDA approved to get reapproval for a new indication.”
Doctors have always had the ability to prescribe drugs off-label for other conditions once they’ve been approved by the FDA, which is precisely what doctors have been doing with hydroxychloroquine. But now all of a sudden, that common (and perfectly legal) practice is portrayed as controversial, unethical and/or illegal.
There’s also the clinical experience of French microbiologist and infectious disease expert Didier Raoult, founder and director of the research hospital Institut Hospitalo-Universitaire Méditerranée Infection,9 who reported10,11 that a combination of hydroxychloroquine and azithromycin — administered immediately upon diagnosis — led to recovery and “virological cure” in 91.7% of patients.
Merritt also reviews the fraudulent science that has been used to suppress hydroxychloroquine use, referring to these studies as “a new level of fake papers.” In one instance the authors pulled the data set out of thin air. They made it up.
Yet these fraudulent papers were published in The Lancet and The New England Journal of Medicine, two of the most prestigious peer-reviewed medical journals in the world. It’s worth asking how that could happen. As noted by Merritt, what we’re told and what’s borne out by facts simply don’t add up:
Hydroxychloroquine costs $10 to $20 for a course of treatment, is already FDA approved, has minimal side effects and has been shown to cut the death rate by 50% when given early in the treatment of COVID-19.12
Yet Fauci is pushing the use of remdesivir,13 an intravenous drug for late-stage severe COVID-19 infection that costs $3,600, has been shown to cause severe side effects in 60% of patients, and doesn’t reduce the death rate. It merely reduces the recovery rate by an average of 31%, or four days.
Merritt believes the reason we’re not embracing hydroxychloroquine is because it could demolish the $69 billion vaccine industry. That alone is enough of a motive to warrant a cover-up, she notes.
The drug could also eliminate one of the most powerful leverages for geopolitical power that the technocrats have, namely biological terrorism. If we know how to treat and protect ourselves against designer viruses, their ability to keep us in line by keeping us in fear vanishes.
Lies by Omission and Ultimate Motives
Last but not least, Merritt reviews lies of omission — facts that would have saved lives had they been promoted. This includes data showing that higher vitamin D levels reduce both the severity of COVID-19 infection and the mortality. So, who benefits from the suppression of data and information that can save lives and the promotion of medical lies?
According to two investigators, John Moynahan and Larry Doyle, Bill Gates negotiated a $100 billion contact tracing contract with Democratic Congressman Bobby L. Rush — who also introduced HR 6666, the COVID-19 TRACE Act — six months before the COVID-19 pandemic broke out, during an August 2019 meeting in Rwanda, East Africa.14
The U.S. government has also purchased 100 million doses of a COVID-19 vaccine still under development by Pfizer and BioNTech. As noted by Merritt, we keep seeing how drug companies fund working groups on diseases, and then when the disease breaks out, those same drug companies make billions in profit.
But aside from profit, Merritt is convinced there’s another reason behind the illogical pandemic responses we’re seeing. She points out how in a few short months, we’ve been dramatically shifted from a state of freedom to a state of totalitarianism. And the way that was done was through the technocratic mechanisms of social engineering, which of course involves psychological manipulation.
Psychological Manipulation Tools
Merritt reviews psychiatry professor Albert Biderman’s work on psychological manipulation and his “chart of coercion,” all of which can be clearly related to the COVID-19 response:
Isolation techniques — Quarantines, social distancing, isolation from loved ones and solitary confinement
Monopolization of perception — Monopolizing the 24/7 news cycle, censoring dissenting views and creating barren environments by closing bars, gyms and restaurants
Degradation techniques — Berating, shaming people (or even physically attacking) those who refuse to wear masks or social distance, or generally choose freedom over fear
Induced debility — Being forced to stay at home and not be able to exercise or socialize
Threats — Threatening with the removal of your children, prolonged quarantine, closing of your business, fines for noncompliance with mask and social distancing rules, forced vaccination and so on
Demonstrating omnipotence/omniscience — Shutting down the whole world, claiming scientific and medical authority
Enforcing trivial demands — Examples include family members being forced to stand 6 feet apart at the bank even though they arrived together in the same car, having to wear a mask when you walk into a restaurant, even though you can remove it as soon as you sit down, or having to wear a mask when walking alone on the beach
Occasional indulgence — Reopening some stores and restaurants but only at a certain capacity, for example. Part of the coercion plan is that indulgences are always taken away again, though, and they’re already saying we may have to shut down the world again this fall
Merritt packs a lot of information into her hour-long presentation, so I hope you take the time to view it. Aside from what I’ve already summarized above, she also reviews:
The influence of the World Health Organization and its largest funder, Bill Gates, and his many connections to the drug and vaccine industries, digital economy and digital tracking technologies
The curious similarities between the Gates-funded Event 201 and current world events
The consistent failures to create coronavirus vaccines in the past, as all trials revealed the vaccines caused paradoxical immune enhancement, which made the disease more lethal. You can learn more about this in “Robert F. Kennedy Jr. Explains Well-Known Hazards of Coronvirus Vaccines”
Fauci’s conflicts of interest
Original Source: articles.mercola.com
Akashay Deshraj and Sourabh Gupta (L-R), Founders of Vernacular.ai
Sourabh Gupta and Akshay Deshraj came to Bengaluru in 2016 after graduating from IIT Roorkee. The duo was among the thousands of engineers who flock to the city every year with hopes to become entrepreneurs and start another Ola, Swiggy, or Flipkart.
Not sure of the problem they wanted to solve, they started doing what most potential startup founders do – they attended as many events as possible, kept meeting people and making new connections, and never stopped reading.
In a recent conversation with YourStory, Sourabh said, “By then Reliance Jio was already here, and everyone was talking about the next 500 million internet users.”
In order to explore what these ‘next 500 million internet users’ wanted and the problems they faced, the two friends started visiting villages in and around Bengaluru. In one of their visits to Kanakapura, a small town situated 55 kilometers from Bengaluru, they finally found the problem they had to solve.
Sourabh recalls having met a farmer who had a very particular and long-existing problem.
“I receive SMS on my phone from the bank. I know the message is from the bank because it has numbers, but I cannot understand what the SMS means because it is in English,” the farmer told him.
He (the farmer) had to cycle 10 kilometers to the bank every time he received an SMS to get the bank manager explain to him what the message meant. Most of the other farmers, across villages, faced the same problem.
“This was when we knew that the next generation of internet users are going to be voice-first,” Sourabh says.
After months of research and development, the IIT graduates launched their company Vernacular.ai. Based out of Bengaluru. The startup is transforming customer interaction through its artificial intelligence (AI) based voice assistant – VIVA. The startup empowers locals and equips enterprises to cater to the non-English speaking population of the country.
Vernacular.ai currently serves more than 25 enterprise clients in 16 different languages in the banking, insurance, food and beverage, and hospitality sectors. This includes the likes of Axis Bank, OYO Rooms, and Barbeque Nation, among others. According to the startup, it helps enterprises automate their call centre operations by up to 80 percent.
Image Source: Shutterstock
Also ReadHow SaaS startup Vernacular.ai is going global as voice AI adoption accelerates amidst COVID-19Bumpy ride
The journey from being a college student to a startup founder was not an easy one. When Sourabh was still preparing for the IIT-JEE examinations, the likes of Flipkart and Ola were ‘making a scene,’ says the Co-founder and CEO.
“I wanted to start a business of my own. I went to IIT not to become an engineer but because my parents wanted me to,” says Sourabh.
Back in college, Sourabh was the Head of the Entrepreneurship Cell in his final year of engineering. During the events, he met his co-founder Akshay. The duo worked on a couple of projects together as well.
When they came to Bengaluru, not many people took them seriously for their age, Sourabh tells YourStory.
“When we expressed that we wanted to build a B2B business, we were told that enterprises want ‘grey hair’ to sell them something,” Sourabh says.
Additionally, there was a misconception that in order to create a deeptech platform, a startup needed a PhD scholar to understand the nuances of the platform. Being fresh out of college did not help Sourabh and Akshay.
Cracking the deal
Coming to a new city and without a job, the duo borrowed money from their parents for the basics. “At a time when everyone sends money back home, we were asking our parents for financial support,” he adds. And with this, came the incessant questions regarding the progress. “All we were doing was reading!” Sourabh says.
Having incorporated the company in October 2016, Vernacular.ai was finally launched towards the end of 2017. Within the first 35 days of its launch, the startup raised an undisclosed amount as seed funding from Kstart Capital, the seed programme of venture capital firm Kalaari Capital. Recently, in May this year, it further raised $5.1 million in its Series A round. The round was led by Exfinity Ventures and Kalaari Capital. AngelList, IAN Fund, and LetsVenture also participated in the round.
Going forward, Sourabh says, “We will now be scaling exponentially and invest heavily in R&D for Indian and South-Asian markets.”
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Original Source: yourstory.com
The Logistics industry has emerged as one of the heroes of the pandemic. With people increasingly dependent on ecommerce to meet both essential and daily needs, the sector has witnessed a huge surge in demand. Although this has put the spotlight on the key role Logistics plays in our economy, there is unprecedented pressure to scale up and increase efficiency while optimising costs.
The past year has also seen the sector benefit from tailwinds such as being granted infrastructure status in 2017, which opened up several institutional funding opportunities; and increased interest from investors. There has also been increased support from the government with a Logistics division created under the Department of Commerce to formulate policy changes, update procedures, identify bottlenecks; and scale the deployment of technology-driven solutions.
To understand the pulse of the sector and what some of the major players in the Logistics sector are saying, YourStory and Amazon Web Services (AWS) hosted a roundtable discussion with 14 Founders, CTOs, CEOs and business leaders to understand Disruption in Indian Logistics & Transport-tech Ecosystem. The session was moderated by Guru Bala, Head of Technology and Solutions, AWS Specialized Services.
The session began with a fireside chat with Thejasvi Bhat, Head of Engineering, BlackBuck, and Pankaj Risbood, CTO, Zendrive, who spoke about how the dynamic in the sector had shifted with the onset of the pandemic. Both agreed that their number one focus was on safety.
“Safety has become this top thing that is driving business value. At Zendrive, we focus on solutions around transportation safety, understanding how drivers are driving, behaviours that may increase the risk of collisions, and risk mitigation such as roadside assistance and emergency assistance and even insurance follow-ups in the event of a collision,” said Rishab.
He added that there is an increasing need for road safety solutions, and that several online cyber safety players were also getting into the fray.
Speaking about how the pandemic had affected the industry, the majority of which is still unorganized, Thejasvi said, “The pandemic has created some amount of disruption. Prior to its outbreak, things worked like a well-oiled machine because you knew where the trucks were going, and hence, you could predict demand and supply. With a dip in demand, truckers started exploring their own routes. We gave fleet owners a suite of services from tracking services to fuel capability, insurance and so on and so forth. We are also connecting customers who want to move tonnage with the right supply partners.”
Another area that was likely to see disruption was insurance. With most people driving only a fraction of what they used to, many are questioning why they need to continue paying the same premium.
“Insurance has always been a 3 to 5 percent margin business. And now, insurance firms have to reduce costs further because there is downward pricing pressure. Then, it makes it very difficult and we are seeing increasing demands for usage-based or behaviour-based insurance as opposed to a blanket annual insurance,” said Pankaj.
Safety for all
After the fireside chat concluded, the rest of the panel also weighed in on what their focus areas would be. It was no surprise that once again it was in providing protection against contracting the virus. Anoop Menon, CTO, redBus said, “We are transporting hundreds and thousands of passengers every day. A sense of safety has to be brought into the business. Our safetyPlus programme has evolved into a completely different animal. We have hired external auditors to check that we maintain the highest level of standards, and 60-70 percent of our operators have already signed up for the programme.”
Akash Maheshwari, Co-founder and CTO, MoveInSync believes that a huge fear psychosis exists and people will not travel unless they are compelled to. “We built a site called covidhotspots.in to identify affected zones in the city, but that has gone for a toss as there are so many containment zones in Bangalore. So, I think it’s important to strategize every week. We should not expect any transport of people for the next few months. Most of our customers feel that not even 10 percent of their employees will return till there is a vaccine.”
The ecommerce wave
While the transport of people has fallen, the number of people ordering goods online has skyrocketed. Dinesh Dixit, VP, LogiNext said that they have seen a lot of traction in deliveries. Dinesh, who is based in the US, said that there was a 60 percent increase in furniture delivery as people have been trying to improve their homes under the lockdown. “Delivery companies are already dealing with razor-thin margins, whether it's quick-service restaurants or even third-party logistics carriers. They have now been categorised as critical service providers, so they are among the few who could actually run their businesses. A lot of it is around messaging, and with concerns around safety, many are reaching out to us to provide tracking information so the customer gets visibility in real-time,” said Dinesh.
Naveen Dachuri, Co-founder and CTO of Yulu agreed that more people would be choosing to stay home. “Indoors is the new outdoors. There will be more demand for food services or delivery services because people simply don't want to go out. The second thing is we have to somehow make our users feel that whatever the services they are using are safe,” said Naveen.
Another interesting trend that could emerge is brands reaching out to customers to establish themselves as safe. Santosh Desai, CTO, Blowhorn said, “A lot of brands that were in the B2B sector are now connecting directly to the customer rather than go through another omnichannel partner. It could be as simple as connecting with them over WhatsApp.”
In addition to allaying customer concerns over safety, logistics providers have also been working to streamline their processes to ensure on-time deliveries. Kashyap Deorah, Founder and CEO, HyperTrack said, “Hyperlocal package delivery has been doing well. Maps are more accurate, and today, there is less traffic on the road. As long as you can make sure that the address is accurate on both sides, ETAs should be accurate. The biggest pain point in delivery from an ETA perspective is the first 100 metres and the last 100 metres, when you factor in waiting times, parking, etc. So modelling that has always been the bane of the industry.”
Delivering custom solutions for businesses will be way forward. Gaurav Bubna, Co-founder, NextBillion.ai, said, “The main challenge is that problems can also be very unique to both transportation modes and geographies. The way addresses are given also vary vastly from one country to another. In India, detailed addresses are provided; in some parts of the Middle East, we get instructions to meet the recipient at the tree near the bus stop. In such situations, Google Maps is just not enough. So, we are hoping to build something that offers much higher performance at a better price point that will be tailored and customized to each business.”
Accurate timing is especially important when it involves transport for people going to work. Sriram Kannan, Founder & CTO, Routematic, said, “People plan their schedules around these timings. My favourite thing to say is: you wake up because you have to go to the office, you don’t wake up and decide to go to the office. This takes a fair amount of time series analysis and we routinely process around 300 million samples a day to get a predictive model that is 95 percent accurate to within 10 minutes.”
Delays can also occur when a relationship of trust has to be built. Gautham Muthuravichandran, CTO, LYNK logistics said, “We have started doing something called distribution as a service during the COVID period. We have made partnerships with FMCG companies, and we have rented out some warehouses to deliver to retail stores. Because we've been in this space for only three months, we have seen that whenever we go and deliver a package to a particular retail store, they open the box and check everything. We have tried various things like transparent packages, but they don't believe in the concept of returning things and are not very sure we are coming back. This process of waiting at the store can take more than 20 minutes.”
Data sharing and efficiency
Jaggi Ayyangar, CEO, Yakit believes that cross-border and B2C commerce will definitely benefit. “Our main problem is supply, not demand, as the latter is huge. Currently, our delivery date algorithms have been thrown a curveball because there is not enough data and things are fluctuating widely. Geolocation is very important and we will be happy to use any APIs that AWS has to help us with that.”
In terms of sharing data, some of the participants expressed the view that common information such as routing and ETAs could be part of a common store that they could all tap into.
Prashant Gupta Co-founder Clickpost said that they were already using data from third-party logistics providers rather than using more popular APIs. “This includes tracking shipments, ETAs to show end customers and with hub-to-hub movement. This has worked really well for us and we have had over 90 percent accuracy with this.”
However, a key factor that needs to be taken into consideration before creating a data lake where everyone can contribute is the need to standardise the data that is being generated. “With data flowing in from different IoT devices, it has to be streamlined and put in a format that can be consumed by everyone. So I think the focus should be more on first standardizing the platform itself from where the data is coming in,” said Naveen.
According to the "Indian Logistics Industry Outlook, 2020”, India’s Logistics sector is set to see growth driven by development in the transport sector, demand for eCommerce; changing consumer patterns; a shift in service sourcing; government reforms, and most importantly the adoption of digital technologies. Current players and future entrants will have to hit the road running, innovate and adapt to these evolving stay relevant in the future.
Want to make your startup journey smooth? YS Education brings a comprehensive Funding Course, where you also get a chance to pitch your business plan to top investors. Click here to know more.
Original Source: yourstory.com
Collaboration between the two influential think tanks will see Carbon Tracker’s industry-leading utilities and oil and gas insights accessible to more markets through 2DII’s PACTA tool.
Sustainable finance think tanks Carbon Tracker and 2° Investing Initiative (2DII) have agreed to work together to develop a new climate scenario analysis solution for companies and financial institutions.
The research collaboration will combine Carbon Tracker’s power and fossil fuel industry assessment expertise with 2DII’s Paris Agreement Capital Transition Assessment (PACTA) tool, a free-to-use software platform that allows users to analyse specific companies and measure the alignment of financial portfolios with climate goals.
The organisations said they would now pool their research capabilities to develop a single analytical solution with multiple methodologies that would allow users to customise company analysis based on their needs. The combined approach would make Carbon Tracker’s industry-leading methodology for the upstream oil and gas and utilities sectors available on the PACTA tool, they said.
The open source software, which is backed by the UN’s Principles for Responsible Investment, is underpinned by a vast climate-related financial database that covers hundreds of thousands of securities, companies, and energy-related physical assets.
Stan Dupré, chief executive of 2DII, said the collaboration would provide financial institutions with the “best tools available to develop impact-oriented strategies that contribute to real world greenhouse gas emissions reductions”.
“PACTA is a critical part of 2DII’s efforts to provide the financial sector with the data, tools and knowledge they need to help align financial flows with the Paris Agreement,” he added. “By combining forces with Carbon Tracker, we are reducing the transaction cost of accessing cutting-edge research by bringing together leading research methodologies in one place and harmonising our approaches.”
PACTA has been applied by more than 1,200 organisations with more than $61tr of assets under management, as well as supervisors and central banks such as the European Insurance and Occupational Pensions Authority and California Department of Insurance.
Mark Campanale, founder and executive chair of Carbon Tracker, toasted the new partnership, which he said could play a role in pushing more companies to align themselves with global climate goals. “Collaborating with 2DII on the use of PACTA will make our insights more accessible to the markets,” he said. “This isn’t just about providing analysts with better data. At its core is our goal of ensuring that fossil fuel producers align their business plans with the objectives of the Paris climate agreement of ‘well below 2 degrees’ and that investors can, with this data, play a key role in moving companies in this direction.”
The two think tanks confirmed they would set up a coordination committee for the collaboration that will count research and management staff.
Original Source: businessgreen.com